Network International, enabler of digital commerce in the Middle East and Africa, and Biz2X, a global technology and financing fintech in the U.S., India and Australia with over $10 billion funded through its digital lending platform, formed a new SME financing partnership.
The primary objective of the partnership is to unlock new sources of capital for Network’s SME merchants by leveraging payment transaction data and providing loan underwriters with real-time credit data. Merchants that use Network’s payments platform will have digital access to financing options and can opt-in from a variety of credit offers embedded via Biz2X.
Financing options through this partnership are expected to become available to Network’s UAE-based SME merchants early in Q4/24.
“This partnership with Biz2X is a part of our ongoing commitment to bring the greatest digital finance technology to the Middle East,” Jamal Al Nassai, group managing director, acquiring, Middle East and North Africa at Network International, said. “We are proud to empower the SME merchants with financing opportunities so that the UAE market can continue to cultivate a thriving SME sector. The combination of our payments data with Biz2X’s digital underwriting prowess is a clear advantage to lenders and merchants alike.”
“By embedding lending options directly into our payment ecosystem, we’re creating a seamless financial experience that meets the evolving needs of modern businesses,” Ronen Spivak, group head of value-added services, managing director at Network International, said. “By leveraging real-time transaction data, we’re not only streamlining the lending process but also enabling more accurate risk assessment. This means faster approvals, tailored financing options and, ultimately, more opportunities for our SMEs to scale and succeed.”
“Our partnership with Network International fully leverages our expertise at delivering embedded financing options to merchants around the world,” Rohit Arora, CEO of Biz2X, said. “Our mission is to expand SME access to capital by making financing accessible and efficient for business owners everywhere. This partnership promises to greatly expand SME access to credit in the UAE, where small businesses are rapidly growing.”
